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BSkyB became ITV's biggest shareholder by buying a 17. 9% stake in the company. The purchase pitted BSkyB chairman Rupert Murdoch against Richard Branson, the cable operator's biggest shareholder. "A renewed focus on programs, particularly at ITV1, should stabilise audiences in the medium term," Lorna Tilbian, an analyst at London's Numis Securities, said in a note today. Net advertising revenue for London based ITV's digital channels rose 40% for the period, the company said. ITV is on target to reduce costs by 40m by 2008 through efficiency savings, according to the statement. ITV's stock fell as much as 1.

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5 pence, or 1. 4%, to 108 pence, and finished 200 pence down at the close in London. Mr Grade, the former chairman of the BBC, pledged to invest in original programming after suspending the company's 500m share buyback to revive audience numbers and increase ad revenue. (BLOOMINGTON, Ind. ) Students at Indiana University and Indiana State were cautioned after a woman from Terre Haute who attends the Bloomington campus was diagnosed with bacterial meningitis. The 18 year old student was in critical condition Monday at Methodist Hospital in Indianapolis, according to an Adidas Zx Vulc Grey IU news release. She became ill Friday while in Terre Haute, where she sought treatment and was transported to Methodist, the release said.

﻿roadcaster ITV had an accelerating decline in net advertising revenue at its flagship ITV1 channel this year as viewers switched channels and surfed the internet instead. Ad sales at ITV1, which accounts for 90% of the company's total, fell 12. 5%, compared with a drop of 3. 3% in 2005, ITV said in a statement. The slide is "in line with current expectations," the company said. ITV, which broadcasts "Coronation Street" and produces shows for rivals including British Sky Adidas Zx Vulc Grey Broadcasting Group, said its 2007 program budget is held at 1 billion (1. 49 billion). ITV appointed Michael Grade as executive chairman November 28, a week after rejecting a takeover bid from cable TV company NTL.